Nicholas A.J. Botwood Sells 34,280 Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CMO Nicholas A.J. Botwood sold 34,280 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00. Following the transaction, the chief marketing officer owned 60,885 shares in the company, valued at approximately $1,095,930. This represents a 36.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Nicholas A.J. Botwood also recently made the following trade(s):

• On Friday, June 12th, Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock. The shares were sold at an average price of $18.14, for a total transaction of $566,602.90.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $18.25 on Friday. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. The firm’s 50 day moving average price is $21.06 and its 200-day moving average price is $21.22. Syndax Pharmaceuticals, Inc. has a 52-week low of $8.59 and a 52-week high of $25.59. The company has a market cap of $1.62 billion, a PE ratio of -6.54 and a beta of 0.38.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The firm had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. During the same period last year, the firm earned ($0.98) earnings per share. The company’s quarterly revenue was up 224.3% on a year-over-year basis. Sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SNDX has been the topic of a number of recent research reports. Stifel Nicolaus set a $45.00 price objective on shares of Syndax Pharmaceuticals in a research note on Friday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, March 9th. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Friday, March 27th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.55.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC lifted its position in Syndax Pharmaceuticals by 45.8% during the first quarter. ADAR1 Capital Management LLC now owns 17,500 shares of the company’s stock valued at $409,000 after acquiring an additional 5,500 shares during the last quarter. California State Teachers Retirement System lifted its position in Syndax Pharmaceuticals by 31.7% during the first quarter. California State Teachers Retirement System now owns 103,009 shares of the company’s stock valued at $2,406,000 after acquiring an additional 24,810 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Syndax Pharmaceuticals by 56.7% during the first quarter. The Manufacturers Life Insurance Company now owns 39,904 shares of the company’s stock valued at $932,000 after acquiring an additional 14,443 shares during the last quarter. Quantinno Capital Management LP lifted its position in Syndax Pharmaceuticals by 11.0% during the first quarter. Quantinno Capital Management LP now owns 22,576 shares of the company’s stock valued at $527,000 after acquiring an additional 2,237 shares during the last quarter. Finally, SummitTX Capital L.P. lifted its position in Syndax Pharmaceuticals by 69.6% during the first quarter. SummitTX Capital L.P. now owns 66,340 shares of the company’s stock valued at $1,550,000 after acquiring an additional 27,213 shares during the last quarter.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.